Common use of DEVELOPMENT DEFICIT GUARANTY Clause in Contracts

DEVELOPMENT DEFICIT GUARANTY. Feld hereby guarantees Feld sha▇▇ ▇dvance to or for th▇ ▇▇count of the Company amounts equal to all Development Deficits at such time as such Development Deficits occur ("Development Deficit Payments"). Feld shall make Development Def▇▇▇▇ Payments required of him by the earlier of (A) the date required to avoid a default under Company obligations, including without limitation the Construction Loan, and (B) the date required to keep all sources of funding for the Project "in balance" as adequate sources of funds to timely cause Final Completion of the Project and satisfaction of other obligations of the Company. In any event, all Development Deficits shall be paid by Feld in full prior to the Fi▇▇▇ Closing Date. All Development Deficit Payments made to the Company shall be non-reimbursable payments, and Feld shall not be entitled to ▇▇▇ repayment from the Company (unless advances of the Construction Loan are later available to reimburse Feld for the same), and the Ca▇▇▇▇l Account of Feld shall not be affected by a▇▇ ▇eficit Payments made by Feld. Without limiting the ▇▇▇▇rality of the foregoing, Feld shall not be entitled to r▇▇▇▇urse himself for any Development Deficits.

DEVELOPMENT DEFICIT GUARANTY. Feld hereby guarantees Feld shashall advance to or for the account of ▇▇▇ Company amounts equ▇▇ ▇dvance to or for th▇ ▇▇count of the Company amounts equal to o all Development Deficits at such time as such Development Deficits occur ("Development Deficit Payments"). Feld shall make Development Def▇▇▇▇ Deficit Payments required of him by the earlier ▇▇▇lier of (A) the date required to avoid a default under Company obligations, including without limitation the Construction Loan, and (B) the date required to keep all sources of funding for the Project "in balance" as adequate sources of funds to timely cause Final Completion of the Project and satisfaction of other obligations of the Company. In any event, all Development Deficits shall be paid by Feld in full prior to the Fi▇▇▇ Final Closing Date. All Development Deficit Defi▇▇▇ Payments made to the Company shall be non-non- reimbursable payments, and Feld shall not be entitled to ▇▇▇ any repayment from the Company (unless advances unles▇ ▇▇vances of the Construction Loan are later available to reimburse Feld for the same), and the Ca▇▇▇▇l Capital Account of Feld shall not be affected af▇▇▇▇ed by a▇▇ ▇eficit any Deficit Payments made by Feld. Without limiting the W▇▇▇▇rality ut limiting the generality of the foregoing, Feld shall not ▇▇▇ be entitled to r▇▇▇▇urse reimburse himself for any Development Deficits▇▇▇icits.